v2.3.0.11
Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash & cash equivalents $ 383,366 $ 1,670,949
Marketable securities 799,800 1,738,000
Prepaid expenses 1,100 1,100
Accounts receivable 9,514 0
Total current assets 1,193,780 3,410,049
PROPERTY AND EQUIPMENT    
Plant and mill - idle 3,980,000 3,980,000
Office equipment 9,204 9,204
Total property and equipment prior to depreciation 3,989,204 3,989,204
Less accumulated depreciation and impairment (9,050) (8,948)
Total property and equipment 3,980,154 3,980,256
Total Assets 5,173,934 7,390,305
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 199,524 210,713
Deferred wages 0 51,782
Notes payable 15,000 401,410
Debentures (net) 50,000 108,542
Accrued interest payable 19,115 469,006
Total current liabilities 283,639 1,241,453
Total Liabilities 283,639 1,241,453
Commitments and contingencies 0 0
STOCKHOLDERS' EQUITY    
Preferred stock, par value $.01 per share; 10,000,000 shares authorized,40,000 and 648,887 issued and outstanding 800 6,489
Common stock, par value $.0001 per share; 2,000,000,000 authorized shares;14,525,044 and 9,335,445 issued and outstanding shares, respectively 1,452 934
Additional paid-in capital 64,292,073 64,172,272
Accumulated (deficit) (59,132,469) (58,616,843)
Accumulated other comprehensive income (271,560) 586,000
Total stockholders' equity 4,890,296 6,148,852
Total Liabilities and Stockholder's Equity $ 5,173,934 $ 7,390,305